STB Ralroad Economic Data Content:

SURFACE TRANSPORTATION BOARD
OFFICE OF ECONOMICS, ENVIRONMENTAL ANALYSIS, AND ADMINISTRATION
WASHINGTON, DC 20423
CLASS I FREIGHT RAILROADS - SELECTED EARNINGS DATA
FIRST QUARTER - 1999
(000 OMITTED)
QUARTER ENDED MARCH 31
Net
Railway Railway Revenue
Operating Operating Net Ton-Miles
Revenues Income Income Of Freight
Railroad Year (1)
TOTAL ALL CLASS I 1999 $8,357,706 $1,026,602 $768,863 348,438,491
FREIGHT RR'S (1)............ 1998 8,129,971 824,514 661,101 337,337,573
.
Burlington Northern - Santa Fe 1999 2,188,520 324,864 251,705 113,560,854
1998 2,147,118 263,290 278,397 113,114,216
.
Consolidated Rail Corp. 1999 890,131 99,834 77,524 23,816,650
1998 898,020 108,949 85,275 24,575,606
.
CSX Transportation 1999 1,297,402 114,225 85,337 44,271,100
1998 1,251,067 148,065 107,249 41,270,000
.
Grand Trunk Western 1999 90,210 10,548 13,928 2,572,068
1998 87,817 2,949 2,730 2,509,834
.
Illinois Central 1999 160,096 34,334 28,448 5,988,137
1998 162,974 33,493 28,812 5,713,430
.
Kansas City Southern 1999 134,850 19,039 11,686 5,592,810
1998 135,343 21,107 13,552 5,331,216
.
Norfolk Southern 1999 1,030,110 143,778 145,028 32,409,777
1998 1,066,048 159,267 167,387 33,461,443
.
Soo Line 1999 130,855 9,730 6,311 4,840,095
1998 135,732 13,092 9,259 5,200,828
.
Union Pacific 1999 2,435,532 270,250 148,896 115,387,000
1998 2,245,852 74,302 (31,560) 106,161,000


SURFACE TRANSPORTATION BOARD
OFFICE OF ECONOMICS, ENVIRONMENTAL ANALYSIS, AND ADMINISTRATION
WASHINGTON, DC 20423
CLASS I FREIGHT RAILROADS - SELECTED EARNINGS DATA
FIRST QUARTER - 1999
(000 OMITTED)
12 MONTHS ENDED MARCH 31
Net Return
Railway Railway Revenue On Net
Operating Operating Net Ton-Miles Investment
Revenues Income Income Of Freight (%)
Railroad Year (1) (2)
TOTAL ALL CLASS I 1999 $33,406,039 $3,904,978 $2,964,480 1,389,122,581 6.66%
FREIGHT RR'S (1)............ 1998 33,032,498 3,649,137 3,039,700 1,347,589,177 6.63%
.
Burlington Northern - Santa Fe 1999 9,005,008 1,470,227 1,179,148 469,492,016 9.77%
1998 8,519,273 1,159,009 1,069,477 438,078,216 8.43%
.
Consolidated Rail Corp. 1999 3,741,250 343,425 311,506 100,720,397 6.11%
1998 3,666,518 124,109 31,417 99,544,343 2.27%
.
CSX Transportation 1999 5,002,728 575,181 356,416 170,102,200 7.35%
1998 4,992,998 638,832 577,449 161,804,000 8.69%
.
Grand Trunk Western 1999 345,467 (6,794) 3,017 9,553,502 -2.47%
1998 346,475 (6,691) 216 9,651,460 -3.28%
.
Illinois Central 1999 648,401 136,828 120,430 23,633,908 12.72%
1998 631,212 152,665 133,350 21,934,327 14.68%
.
Kansas City Southern 1999 549,423 77,264 51,176 21,896,886 8.96%
1998 530,825 34,753 (95,922) 20,309,887 3.83%
.
Norfolk Southern 1999 4,185,272 668,833 702,448 132,383,853 9.28%
1998 4,242,694 803,640 791,900 136,039,461 11.73%
.
Soo Line 1999 540,445 45,556 32,525 20,045,819 4.48%
1998 544,501 100,073 96,448 20,717,483 11.73%
.
Union Pacific 1999 9,388,045 594,458 207,814 441,294,000 3.02%
1998 9,558,002 642,747 435,365 439,510,000 3.45%
















SURFACE TRANSPORTATION BOARD
OFFICE OF ECONOMICS, ENVIRONMENTAL ANALYSIS, AND ADMINISTRATION
WASHINGTON, DC 20423
CLASS I FREIGHT RAILROADS - SELECTED EARNINGS DATA
SOURCES OF DATA:
Railway Operating Revenues, Net Railway Operating Income, and Net Income are from the "Quarterly Report of Revenues,
Expenses, and Income - Railroads" (Form RE&I).
.
Revenue Ton Miles of Freight are from the "Quarterly Condensed Balance Sheet - Railroads (Form CBS).
.
NOTES:
.
(1) Net Railway Operating Income is the difference between railway operating revenues and the total of railway operating expenses, railway tax accruals, and net equipment and joint facility rents.
.
(2) Return on Net Investment (ROI) is the ratio of net railway operating income to net investment in railway property used in transportation services at end of previous calendar year. The latter includes an allowance for working capital. Accumulated deferred income tax reserves are subtracted from the net investment base.

Since net investment figures are only available on an end-of-year basis from the Annual Report Form R-1's, filed on March 31 of each year, the net investment bases used to compute returns on net investment in this report are the most recent year-end figures available (data as of the end of 1998 and 1997).

ROI's, as computed by the Board for its annual determination of the revenue adequacy of each class I railroad, will differ from the ROI's computed for this report. ROI's for the revenue adequacy determination are based upon the average of the beginning and end-of-year net investment bases, while ROI's for this report are based on end-of-year data only. Also, ROI's for revenue adequacy determinations are computed using data reported by the class I railroads in Annual

Report Form R-1, Schedule 250, "Consolidated Information for Revenue Adequacy Determination." The data contained in Schedule 250 differ somewhat from the data in the Form RE&I, and are therefore not totally compatible.